We use cookies to give users the best content and online experience. By clicking “Accept All Cookies”, you agree to allow us to use all cookies. Visit our Privacy Policy to learn more.

Manage Cookies
Resources for Businesses My BBB
Share
Business Profile

Trade Exchange

E*TRADE Financial Holdings LLC

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Trade Exchange.

Complaints

This profile includes complaints for E*TRADE Financial Holdings LLC's headquarters and its corporate-owned locations. To view all corporate locations, see

Find a Location

E*TRADE Financial Holdings LLC has 14 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

    Please enter a valid location.

    Customer Complaints Summary

    • 505 total complaints in the last 3 years.
    • 155 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:05/09/2023

      Type:Product Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      On 4/18/2023 I sent a letter of instruction to Etrade Beneficiary Services using case# ********. I asked to close an existing Etrade joint account and transfer assets to my new Etrade trust account. I sent the forms to Etrade by email and called to verify that they were received. I was told that it would take **** business days to process. I have called the Beneficiary Services several times since then to ask for a completion date, and each time they tell me it will take another two weeks. During the most recent call on 5/9/23, they told me it would take ***** more days to complete. When I did a similar request with **********, it only took 2 days to process.

      Business Response

      Date: 06/15/2023

      June 15, 2023

      To Whom It May Concern:

      I am following up on your May 16, 2023, letter to ***** ********** requesting a response to **** *********’s complaint in the above-referenced matter.

      Unfortunately, we are prohibited by Securities and Exchange Commission Regulation S-P and Morgan Stanley’s internal policies from disclosing non-public customer information to nonaffiliated third parties, including the Better Business Bureau. This prohibition extends to any description of the customer complaint or its response because any meaningful discussion of the complaint would generally require the disclosure of personal information about the customer, his or her finances, and investment objectives.
      Please note that a detailed response was provided to *** ********* via Secure Message on June 15, 2023.

      Sincerely,
      Compliance Department
      E*TRADE Securities LLC

      Customer Answer

      Date: 06/22/2023

      [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 

      Regards,

      ***************************

    • Initial Complaint

      Date:04/25/2023

      Type:Product Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I closed my etrade account. I subsequently received an emailed survey requesting feedback as to why I closed accounnt in exchange for a $5 ****** gift card. I completed the survey & never received the gift card.

    • Initial Complaint

      Date:04/22/2023

      Type:Customer Service Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have pdt account with etrade and was under 25K. I accidentally bought spy call that expired same day and meant to buy one that expired next day. I called customer service at 2pm for etrade. And they told me I could not mark it ad do not exercise until after 4 PM and before 530pm but at 3:59pm the call was sold without my permission and I am now forced to be in a cash only account which means I can't use margin which I was forced into even though they told me i had to wait till after 4 PM to call them and tell them not to exercise it which I planned on doing but at 3:59 PM it was sold without my permission Which lost me access to margin use and I feel that it's extremely unfair.

    • Initial Complaint

      Date:04/21/2023

      Type:Billing Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      When I received an email that I still had an active account on Etrade I immediately attempted to close the account. On April 5th the representative communicated with me that the account was restricted and that I needed to deposit $9 to lift up the restriction. I did so. I called again on April 11 and spoke to a *** ****** and he communicated with the Debt and Recovery Department again to lift up the restriction. I called again on 4/21/23 and the representative **** ****** filed again to the Debt and Recovery Department to lift the restriction. I just need this account close. I can't close it because of the restriction. A small issue is becoming a much bigger hassle. I have had horrible customer service with this broker. Which is why I since 2019 switch to solely ******** and ************ for my broker needs. I just want the account close.

    • Initial Complaint

      Date:04/21/2023

      Type:Service or Repair Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I opened an account on Tax Day because my CPA recommended depositing into a traditional IRA with ETrade. I contacted consumer service to insure I would be able to deposit the max amount of $6,000 that day. The option to link my bank account was going to take several days, so they gave me the E-check option. It came with zero instruction. So I followed the basics the representative gave me. I was told that if it was submitted before the deadline of 4pm EST, which it was, that it would be fine. It was directed to specifically 2022. I made it clear with several representatives that I only aimed to contribute to 2022. I would be happy to do 2023, as long as I knew I could trust the system to efficiently get me into 2022. I got notified of a rejection the next day and no one could give me an answer why. They submitted some sort of "research" for me and said I could get a secured message. Several days later, never got a secured message. Today, I got a phone call from a ETrade and a guy who offers me nothing other than saying, "hey you can contribute to 2023, as long as you don't wait until the last day." I get it. I didn't want to wait until the last day either, but it showed as an option on their site and the representatives of ETrade gave me the green light. I have cancelled my account and have taken future business elsewhere due to deceptive practices. This is a place I want to trust my money with. I get they're a giant and there is no use fighting, but I am trusting my future to a company. If they screw up day 1 on promises and show what they showed me, then I have zero interest in them. There are other options I am exploring currently.

    • Initial Complaint

      Date:04/16/2023

      Type:Customer Service Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      GoodDay ! I would like to get this to your notice in regards to an issue I faced with etrade last week which made me feel devastated ! I had few option contracts which I purchased few days ago and was running on loss and on the day of April3rd I did get an opportunity to minimize my loss and sell my contracts.To my surprise etrade went down for almost half an hr or more and I couldnt sell my option contracts and remained in loss . I have screen shots which shows my logins and the error displays and glitches on etrade in regards to this incident which didnt allow me to sell my positions and get into loss again ! I was able to get hold of etrade customer care who is aware of the whole situation where I shared all the screen shots and explained my unfortunate situation ! I was assured by the customer care that this situation would be for sure taken care and was told that if i sell the positions before an update from etrade that would let me loose the opportunity of recovery from Etrade ! And hence I did hold off without selling and to my surprise when I called the customer care next day I was told that they couldnt help me with the situation.First thing, looking at the etrade screen during the glitch where my balances were zero and losses were high I almost had a heart attack and later on due to the glitches I was not able to sell and pushed me into huge loss and the assurance was not fulfilled ! Why should an innocent customer take huge loss during peak times of trading and get into losses . Despite of assurance given nothing worked out as well and I have to bear the huge losses for the etrade mistake ?? I trust and have put my money and end up taking the losses ?The loss have hit almost $2800 for no mistake of mine ??I would like to provide the screen shots on this whole incident . And the customer care has clear info on this as well . I need justice to be served in this matter !! More than money it was the shock and the peace of mind as well as the customer care being dealt with ignorance has broken me up !!Incident Date : 04/03/2023 Timing : Between 9.35am - 10.25am approximately Option Contracts List :QQQ - April 21 311 Put - Paid *****- 4cons QQQ - April 21 317 Put Paid - **** - 2cons Spy - April 21 **** Put - ***** - 2cons Googl - April 21 101 Put - **** - 3cons

      Business Response

      Date: 05/25/2023

      May 25, 2023

      To Whom It May Concern:

      I am following up on your May 11, 2023, letter to ***** ********** requesting a response to ***** ********’s complaint in the above-referenced matter.

      Unfortunately, we are prohibited by Securities and Exchange Commission Regulation S-P and Morgan Stanley’s internal policies from disclosing non-public customer information to nonaffiliated third parties, including the Better Business Bureau. This prohibition extends to any description of the customer complaint or its response because any meaningful discussion of the complaint would generally require the disclosure of personal information about the customer, his or her finances, and investment objectives.

      Please note that a detailed response was provided to *** ******** via mail on May 25, 2023.

      Sincerely,
      Compliance Department
      E*TRADE Securities LLC

    • Initial Complaint

      Date:04/08/2023

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      ETRADE can not be trusted. They are providing false information to market their product to new customers. They stated that there would be no fees or charges to open and use the account. However, once the account was open there was a bait and switch. To use their product one needs to deposit $1000 into the account. I'm trying to close my account, but they won't give me the rest of my money back. Money that has not been used, and is just sitting in my online wallet. They say it's for my protection that they won't give me my money back. How is this for my protection when I'm taking MY money back and CLOSING my account?

      Business Response

      Date: 05/12/2023

      May 12, 2023 

      Dear *** ********:  

      On behalf of E*TRADE Securities LLC (E*TRADE), this letter is in response to your  correspondence to the Better Business Bureau (BBB) that was received by E*TRADE on  April 27, 2023. 

      A detailed response to your concerns was sent via mail from the Compliance Department  on May 12, 2023. 

      E*TRADE appreciates the opportunity to address your concerns; if you still require  assistance, you are encouraged to contact Customer Services at 1-800-387-2331. 

      Sincerely, 

      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:04/06/2023

      Type:Delivery Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have been with ETrade for many years and have never had this particular problem before. On March 31, 2023 after the market opened, I placed an order to purchase 344 shares @$2.90 for ticker ****. The order was executed at 9:36 am. I immediately tried to place a Stop on Quote order as I always do when I execute a Buy. When I did, I was unable because I received a message that I needed to contact ETRADE. The message read: "ERROR Closing orders for this security cannot be accepted online at this time. For assistance with placing this order, please contact Customer Service at 1-800-ETRADE-1 (1-800-387-2331" I contacted ETRADE Customer Service. I had to wait a few minutes to get through. I got through and spoke about the message I received. I was told I could not sell the order because there was a Corporate Action Halt placed on ****. By this time a trading halt had been placed on the stock as well. After speaking to him for a bit. I asked to speak to someone else and ended up speaking to a total of 3 people. The second person told me there was a Corporate Action Halt and later in the conversation notified me that now I can sell the stock. I was able to sell the stock at 10:11 am at $1.07. I would have broken even or gained on this purchased. Instead I lost $629.58. I spoke with ETRADE for 52 minutes. I have the recording. Sara Lynch explained to me that ETRADE did not stop the trade from happening if it is a BUY because they don't want people who are intending to buy and hold for the day or hold for the long haul to miss out. I explained that I (and others) are not in that group. I was trying to sell immediately. As I explained, ETRADE should not have allowed the BUY and then denied the SELL. The same message that I received when I tried to sell is the message I should have received when I tried to BUY. Then I would not have gotten into this stock. That way EVERYONE is protected. I lost almost $700 because of what ETRADE did. Not my fault.

      Business Response

      Date: 05/10/2023

      May 10, 2023 

      Dear *** *******:  

      On behalf of E*TRADE Securities LLC (E*TRADE), this letter is in response to your  correspondence to the Better Business Bureau (BBB) that was received by E*TRADE on  April 25, 2023. 

      A detailed response to your concerns was sent via Secure Message from the Compliance  Department on May 10, 2023. 

      E*TRADE appreciates the opportunity to address your concerns; if you still require  assistance, you are encouraged to contact Customer Services at 1-800-387-2331. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:04/04/2023

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      E*Trade has been holding my money in account for a year and stated it was restricted and I was unable to use. I finally spoke to someone and resubmitted there requested information. I was told that the account would be lifted. I called again and was told again it would be lifted soon. I then finally was told it was another issue and it would be lifted but with no real date given. That I should call back if not lifted by end of the week. I then asked to close the account and be given my money back that they have been holding. They said they can't do that until unrestricted but can't give me an exact date that it will be unrestricted. When pushed again why it has a restriction the CS rep said the account is in the application phase. So they are resubmitting my account for application while holding my money. I would like a resolution to when the account will be restricted and my money available to me.

      Business Response

      Date: 05/08/2023

      May 8, 2023 

      To Whom It May Concern: 

      I am following up on your April 18, 2023, letter to ***** ********** requesting a  response to ****** ******’s complaint in the above-referenced matters.  

      Unfortunately, we are prohibited by Securities and Exchange Commission Regulation S P and Morgan Stanley’s internal policies from disclosing non-public customer  information to nonaffiliated third parties, including the Better Business Bureau. This  prohibition extends to any description of the customer complaint or its response because any meaningful discussion of the complaint would generally require the disclosure of  personal information about the customer, his or her finances, and investment objectives.  

      Please note that a detailed response was provided to *** ****** Via Secure Message on  May 8, 2023. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

      Business Response

      Date: 05/09/2023

      May 8, 2023 

      To Whom It May Concern: 

      I am following up on your April 18, 2023, letter to Brock Williamson requesting a  response to ****** ******’s complaint in the above-referenced matters.  

      Unfortunately, we are prohibited by Securities and Exchange Commission Regulation S P and Morgan Stanley’s internal policies from disclosing non-public customer  information to nonaffiliated third parties, including the Better Business Bureau. This  prohibition extends to any description of the customer complaint or its response because any meaningful discussion of the complaint would generally require the disclosure of  personal information about the customer, his or her finances, and investment objectives.  

      Please note that a detailed response was provided to *** ****** Via Secure Message on  May 8, 2023. 

      Sincerely, 
      Compliance Department 
      E*TRADE Securities LLC

    • Initial Complaint

      Date:04/04/2023

      Type:Billing Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I setup a ***** **** account many years ago for my son. Now that he is in college, we are withdrawing the money to pay for college. We withdrew money as expenses were incurred, unfortunately one check didn't get cash or deposited correctly. Etrade sent me a letter notifying me of this and to call for help. I did so, but they said the account had been closed because all the funds had been withdrawn though they acknowledged the one outstanding amount. I asked how to correct this, they asked a bunch of questions, and said that the account had to be re-opened, it would take a couple of business days, and I could request another disbursement. Great I thought. A week goes bye, the account isn't open again. I call and wait in line to have the agent tell me a slightly different story and tell me again that it would be opened in a couple of business days. Rinse and repeat. I am now on hold for the sixth time to try and get this resolved. All I want is the funds for my son's college bills.

    E*TRADE Financial Holdings LLC is NOT a BBB Accredited Business.

    To become accredited, a business must agree to BBB Standards for Trust and pass BBB's vetting process.

    Why choose a BBB Accredited Business?

    BBB Business Profiles may not be reproduced for sales or promotional purposes.

    BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

    When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

    BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.

    As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.